Placefirst and Strata strengthen partnership with second scheme to deliver homes

Build-to-rent developer-operator Placefirst, and leading contemporary homebuilder Strata, in a strategic partnership with Auxesia Homes, have announced a second deal under their joint venture to deliver 104 single-family rental homes in Bilborough, Nottingham.

The deal reinforces their commitment to building 500 sustainable, high-quality rental homes across the UK by 2028.

The latest scheme, called Chingford Meadows includes 70 spacious three-bedroom homes and 34 generous four-bedroom homes, all of which will be managed and maintained by Placefirst. By exclusively comprising houses, the planned development reflects growing demand for larger homes in the private rental sector, as well as Placefirst’s belief in giving renters the same space and choice as buyers.

This forward-funded scheme represents Placefirst’s first investment in Nottingham and will bring the total number of homes delivered through its JV with Strata to 232. With the partnership’s mission to build at pace, the first homes will be delivered in July 2026, with site completion due in July 2028.

The scheme will also bring 26 much-needed affordable homes to the area, which are being acquired by Auxesia Homes, a Registered Provider (RP) of affordable housing. This pioneering deal marks a new way of doing business for all partners involved – Placefirst, Auxesia Homes, and Strata, working together to deliver both private rental and affordable housing at scale. The structure of this agreement is the first of its kind for Auxesia and Placefirst, where this joined-up approach in purchasing both S106 and build to rent units allows developers to unlock entire sites in a single transaction, even where traditional viability might otherwise fall short. It provides developers with a profitable, de-risked exit strategy while enabling the delivery of high-quality, energy-efficient homes across tenures. This model is set to be replicated across future sites, offering new opportunities for landowners, developers, and investors seeking impactful, scalable housing delivery.

The homes at Chingford Meadows will be built to a best-in-class rental specification, developed jointly by Strata and Placefirst. Each property will include private gardens, electric vehicle charging points, and photovoltaic (PV) panels, offering greater privacy and comfort, lower energy costs, and enabling a more sustainable lifestyle within a professionally managed rental community.

The development will be located just a 15-minute drive from the city centre in a well-connected area of Nottingham. Future residents will benefit from being walking distance from a number of schools, but still within close proximity to open green space and wellness facilities, including Bilborough Park and Harvey Hadden Sports Village.

Henry Marshall, Chief Investment Officer at Placefirst said: “Chingford Meadows is a strong testament to the success that sustained partnership can bring. Together with Strata, we are bringing to the East Midlands’ largest city new, high-quality single-family rental homes for the local community, as part of our first investment in Nottingham.

“Strengthening our partnership with Strata allows us to accelerate delivery and build at greater scale. The urgency of this shouldn’t be underestimated as the growing shortfall of such homes in the private rental market is estimated to be in the millions. This second scheme is a clear demonstration of what our joint venture and shared commitment can achieve, and it brings us closer to our ambition of delivering 500 homes through this partnership.

“ new scheme also reflects our mission to deliver the best for the UK’s community of renters, offering them quality single-family homes that provide them with the space and stability they need to settle and put down roots in places where they want to live. As regeneration and placemaking specialists, we know that it is only by giving renters this homeowner quality experience that we can foster embedded, long-term communities.

“We are also delighted that the development will bring 26 new affordable rental homes to the area offering local people safe, energy-efficient places to live.”

Gemma Smith, Chief Executive Officer at Strata said: "This project is a fantastic example of the power of long-term collaboration. Working closely with Nottingham City Council, Placefirst and Auxesia, we’ve been able to unlock a site that will now deliver genuine social and economic value for the city. 

“It’s especially exciting to be delivering our first Midlands-based Single Family Housing site with Placefirst — a partner that shares our values when it comes to quality, placemaking and long-term stewardship. This marks a major step forward in our ambitions to grow our footprint in the Midlands through meaningful partnerships and mixed-tenure communities.” 

Claire Donnelly, Interim Chief Executive Officer at Auxesia Homes, commented: “This deal represents a step change in how we approach site delivery. By bringing together three like-minded organisations, we’ve created a model that not only works commercially but also delivers meaningful social value. It shows what can be achieved when ambition, innovation, and shared purpose come together – and we’re excited to build on this success across future developments.”